When the owner of a financial-services firm in Connecticut saw the U.S. tax overhaul pass in December, capping state and local deductions, he packed his bags. Now he lives in South Florida, soaking up the sun and some serious annual savings.
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The Trump administration's cap on state and local property tax deductions is doing a number on home sales in the leafy suburbs of New York City, according to a report. Sellers in affluent sections of Westchester County, Connecticut and New Jersey are finding it hard to unload their upscale homes because the $10,000 cap on the deductions is complicating matters and would-be buyers are holding out for lower prices, Bloomberg reported .
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This has become a summer of discontent for those trying to sell their homes in New York City's leafy suburbs - in no small part because of the Trump administration. In affluent enclaves in Westchester County, New Jersey and Connecticut, a federal cap on state and local property tax deductions has begun to bite hard.
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Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, negotiated a $15.1 million joint venture equity investment from a global asset management firm on behalf of Post Management/Goodfriend Self-Storage, a New York City based self storage owner, operator and developer. The partnership invested in a 72,000 square foot gross self storage property located at 588 North State Street in Briarcliff Manor, NY.
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Regional Headlines

A week before the Trump presidential campaign announced that it had hired Paul Manafort, a Yankees ticket specialist alerted him that his annual season tickets would soon be arriving at his 43rd-floor apartment at Trump Tower in New York. "Will you and Kathy be attending opening day?" the specialist asked in an email in late March 2016, referring to Mr. Manafort's wife.
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Monsanto is being accused of hiding the dangers of its popular Roundup pro... Lawyers say a jury's $289 million award to a California man who claims Monsanto's Roundup weed killer gave him cancer may open the floodgates for legions of people suffering because of the agribusiness giant. Lawyers say a jury's $289 million award to a California man who claims Monsanto's Roundup weed killer gave him cancer may open the floodgates for legions of people suffering because of the agribusiness giant.
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Kushner Companies received relief for its aluminum-clad albatross of 666 Fifth Ave. Brookfield Asset Management purchased a 99-year, 100% leasehold interest in the 1.5 million square-foot Midtown Manhattan office building. Although the financial terms were not disclosed The New York Times reported Brookfield paid approximately $1.1 billion in upfront rent, and that Charles Kushner, who's now heading the company, negotiated to pay lenders substantially less than what was owed on the building.
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Mortgage servicers and other financial institutions have been battling the issue of what affirmative act "clearly and unequivocally" accelerates a mortgage debt for years. Currently, there is a split in authority between the First and Second Departments of the New York Supreme Court Appellate Division regarding whether a notice of default using the words "will be accelerated" clearly and unequivocally accelerates a mortgage debt upon the expiration of the cure period.
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National Headlines

The Royal Bank of Scotland will pay the largest fine arising out of the mortgage crisis to settle allegations it misled investors about risky home loans made during the housing bubble that ultimately led to the 2008 financial collapse. The $4.9 billion settlement was reached with the US Attorney's office in Boston and was the largest penalty on a single company that the US Department of Justice has imposed on banks and lenders for financial crisis-era misconduct.
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Royal Bank of Scotland will pay a 4.9 billion US dollar fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The US Justice Department said in a statement that the penalty is the largest it has imposed for financial crisis-era misconduct at a single company.
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The approximately 5,200-square-foot commercial condo unit, at 115 Spring Street between Greene and Mercer streets, is currently occupied by an Adidas store. The footwear company signed a lease for the space in 2015, opening an "Originals" store that covers two floors.
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Clockwise from top left: Sleek waterfront home in Southampton lists for $9.75, Sagaponack mansion's price chopped down to $21.5M, Developers and brokers cross fingers for more condo sales amid rocky market and East Hampton home of Hampton Beverage lists for $5.9M. 4.4-acre Sagaponack mansion's price chopped down to $21.5M The ask for a 13,000-square-foot home sitting on 4.4 acres was reduced by $2.45 million, its first cut since it was listed for $23.95 million in June.
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